Dhaka, Bangladesh (BBN) - The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
656 highest taxpayers to get NBR award
National Board of Revenue is going to honour 656 individual and corporate taxpayers for payments of the highest amount of income taxes in different categories in the fiscal year 2017-2018. Of them, 141 taxpayers from individual and company categories will be awarded tax cards for payment of the highest income taxes at the national level in the year.
Nine fourth generation banks continue to bleed
All nine fourth generation banks, given licences in 2013 on political consideration, saw their non-performing loans (NPLs) soar by Tk1,269 crore in a period of six months, according to the latest data of Bangladesh Bank. As of June 2018, their sour loans stood at Tk2,417.87 crore, which was Tk1,148.77 crore in December last year.
BD may get 'competitive' edge: BB assessment
The ongoing US-China trade tension may create a short-term "competitive advantage" for Bangladesh in both import and export sectors, according to an assessment of the Bangladesh Bank. But the central bank, in the quarterly assessment report published last week, made it clear the potential gain will depend on addressing infrastructural and financial issues.
Poor return raises concern for insurers
The insurance sector's returns on investment in fixed assets such as land, buildings, floors and flats have been minimal, raising concerns among the regulator on insurers' capacity to settle claims. In the first quarter of the year, life insurance companies invested Tk 2,470 crore, or 8.48 percent of their total fund, in fixed assets and the return was only Tk 10 crore, which is 0.40 percent of the investment.
Bangladesh’s private sector credit growth falls further
Bangladesh’s private sector credit growth fell slightly in September further mainly due to lower demand for loans ahead of the national elections, bankers said. Most of the banks are also maintaining a ‘go-slow’ policy for loan disbursement as they will have to comply with the central bank’s revised advance-deposit ratio (ADR) rules to be effective by March 2019, they added.
Remittance inflow rises by 11.9pc in July-Oct
Remittance inflow in the first four months of the current fiscal year rose by 11.9 per cent year-on-year, topping $5 billion, because of rise in value of the dollar against the taka. Expatriate Bangladeshis sent home $5.1 billion in July-October in the current FY2018-2019 against $4.55 billion during the same period of last FY2017-2018, according to Bangladesh Bank data released on Thursday.
Bangladesh’s stocks seen another bearish week
Bangladesh’s stocks witnessed yet another bearish week that ended on Thursday, extending the losing streak for the third straight week. Analysts said earnings and dividend declarations of some companies during the week failed to meet investors’ expectation, prompting them to sell shares.
Bangladesh’s burgeoning pharmaceutical sector: Ruling local market, stock business, and expanding abroad
Bangladesh is the only least developed country around the globe that meets up to 97% of its demand for pharmaceutical products, with a market size of nearly Tk200 billion, through local companies, policymakers and industry insiders have said. In addition, Bangladeshi pharmaceutical products are being exported to 199 countries, and generated over $100 million in the last fiscal year.
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